DUBLIN--(BUSINESS WIRE)--The "Global Automotive Cybersecurity Market Size, Share & Industry Trends Analysis Report by Application, Security Type, Offering, Form, Regional Outlook and Forecast, 2022-2028" report has been added to ResearchAndMarkets.com's offering.
The Global Automotive Cybersecurity Market size is expected to reach $6.2 billion by 2028, rising at a market growth of 19.9% CAGR during the forecast period.
Driver preferences and desires are changing quickly. Vehicles and the industry as a whole are changing to satisfy consumer aspirations for individualized experiences.
Increased personalization and connectivity lead to more software, which increases risk. Similar to how smartphones and smart appliances operate, connected cars can share the internet as well as wireless network access with other cars and external devices.
They are capable of transmitting and receiving data. Greater functions and capabilities are already being provided by new software to satisfy the demands and expectations of drivers. In such cases, automotive cybersecurity is essential and ought to be considered during the forecast period.
The market for automotive cybersecurity is anticipated to develop as a result of factors like rising demand for automotive cybersecurity, government attempts to integrate connected car technologies, and the imposition of obligatory cybersecurity requirements. Additionally, it is anticipated that the use of adaptive security to improve vehicle security and the increasing complexity of cars' electronic systems would present in future years.
COVID-19 Impact Analysis
In order to curb the effect of COVID-19 pandemic, governments across the globe were obliged to impose stringent lockdowns as well as mandate social seclusion.
As a result, there was a sharp decline in the market for new cars. Additionally, the raw material supply was reduced, there was a slowdown in manufacturing, and supply systems around the world were disrupted. The adoption of cutting-edge cybersecurity systems has been hampered by the losses experienced by the car industry.
The usage of automotive cybersecurity solutions, however, is anticipated to rise with time due to increased demand for connected automobiles and the continuous immunization campaign that is taking place across the globe.
Market Growth Factors
The rise in automotive cybersecurity needs
The automobile business is changing as a result of the increased connectivity of vehicles to everything, including traffic lights, parking meters, other vehicles, and much more.
Advanced technologies are used throughout, including shared mobility, self-driving cars, electrified vehicles, and advanced driver assistance systems (ADAS). In addition to improving comfort and safety on the roadways, these technologies also expose this complex and dynamic environment to cyberattacks.
Attack points grow as the ecosystem becomes more interconnected, revealing new weaknesses that hackers could exploit to endanger car safety, user privacy, and the integrity of automotive data. This increasing need for security against the rising number of connected cars cyberattacks, is anticipated to fuel the expansion of the automotive cybersecurity market over the course of the projected period.
Increasing Car Security by Making Use of Adaptive Security
A cybersecurity technology called adaptive security examines actions and occurrences to stop and prepare for threats before they happen.
An adaptive security architecture can be used by a company to give proportional enforcement that can be turned up or down while continuously analyzing risk.
It is simpler to defend a scattered workforce with adaptive security, which many automotive manufacturers lack throughout their operations. Therefore, during the projected period, these elements in the automobile industry are anticipated to fuel market growth.
Market Restraining Factors
Differences in pricing tactics between stakeholders
The entire ecology of the automotive business is shifting due to the advent of additional services like E-calls, multimedia streaming, and remote diagnostics in connected cars. The automotive ecosystem has changed from being fixed to being dynamic, with a share of revenue is accounted for by each actor. The existence of numerous stakeholders has made the pricing model in the linked ecosystem difficult to implement.
Managing the complexity and cost of various pricing strategies is a challenge for many businesses. Software firms currently use multiple pricing models to generate income. According to specialists in the field, cybersecurity solution providers struggle to apply the best pricing plan in a variety of situations in order to increase income and reduce potential loss.
Scope of the Study
Market Segments Covered in the Report:
By Application
- Communication Systems
- Telematics
- Infotainment
- ADAS & Safety
- Body Control & Comfort
- Powertrain Systems
By Security Type
- Application Security
- Endpoint Security
- Network Security
By Offering
- Software
- Hardware
By Form
- In-Vehicle
- External Cloud Services
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Robert Bosch GmbH
- Continental AG
- Denso Corporation
- Aptiv PLC
- Harman International Industries, Inc. (Samsung Electronics Co., Ltd.)
- Vector Informatik GmbH
- Arilou Information Security Technologies Ltd. (NNG Group)
- GuardKnox Cyber Technologies Ltd.
- Karamba Security Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/k6ahb1
